Marketers Import N952 Billion Worth of Petrol to Battle Dangote Refinery
- Nigeria's petrol imports surged nearly 1,000% in Q2 2026, raising competition among marketers and local refineries
- Dangote Refinery clashed with marketers over the impact of imported petrol on local demand and pricing strategies
- Despite increasing exports, Nigeria's petrol trade remains in deficit, highlighting contradictions in its fuel market dynamics
PAY ATTENTION: Find it fast with our new search feature at Legit.ng!
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s petrol market is witnessing renewed competition as marketers imported petroleum products worth ₦952.15 billion in the second quarter of 2026, despite rising domestic supplies from the Dangote Petroleum Refinery and other local producers.
The sharp increase in imports has intensified the growing dispute between Dangote Refinery and petroleum marketers over the continued inflow of foreign petrol into the country.
Source: Getty Images
Petrol imports jump nearly 1,000%
Data from the National Bureau of Statistics’ Foreign Trade in Goods Statistics showed that petrol imports jumped from ₦87.40 billion in the first quarter to ₦952.15 billion in Q2.
That represents an increase of ₦864.75 billion, or 989.4 per cent, within three months.
Petrol was Nigeria’s largest imported commodity during the quarter, accounting for 6.60 per cent of the country’s ₦14.42 trillion total import bill.
However, the Q2 figure remained 66.4 per cent below the ₦2.83 trillion recorded in the corresponding quarter of 2025, indicating a sharp rebound rather than a return to last year’s level of import dependence.
Local refining gains ground
The surge in import spending came despite stronger domestic refinery output.
Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority showed that average imported petrol supply fell 17.8 per cent from 11.23 million litres per day in Q1 to 9.23 million litres per day in Q2.
By contrast, domestic refinery supply increased by 10.6 per cent, rising from 34.57 million litres per day to 38.23 million litres.
As a result, locally refined petrol accounted for about 80.5 per cent of average PMS supply in Q2, up from 75.5 per cent in Q1. Importers’ share fell from 24.5 per cent to 19.5 per cent.
The steep rise in the value of imports despite lower average volumes suggests that higher international refined-product prices contributed significantly to the increase in import spending.
Dangote, marketers clash over imports
The figures have added pressure to an already heated disagreement between Dangote Refinery and fuel marketers.
The refinery recently raised concerns over imported petrol, saying significant volumes entering the Nigerian market were creating uncertainty around domestic demand and forcing it to export excess inventory.
Dangote has argued that maintaining large stocks becomes commercially difficult when the volume of imported PMS entering the market remains unpredictable.
Marketers, however, have resisted any attempt to restrict their access to imported petrol, arguing that competition should remain open.
They have also challenged the refinery to provide evidence that imported petrol entering Nigeria allegedly fails to meet prescribed quality standards.
Local petrol remains cheaper
Price comparisons have strengthened the argument for greater reliance on domestic refining.
Data from the Major Energies Marketers Association of Nigeria showed Dangote Refinery’s gantry price at ₦1,265 per litre, compared with import-parity prices of ₦1,310.64 and ₦1,309.63 per litre under the ASPM and NPSC-NOJ benchmarks.
Imported petrol was therefore about ₦45.64 per litre and ₦44.63 per litre more expensive under the two benchmarks, respectively.
The Independent Petroleum Marketers Association of Nigeria has consequently called on the Federal Government to review the continued issuance of petrol import licences, arguing that the policy has not delivered the expected price competition.
Nigeria still exports petrol
Despite the substantial import bill, Nigeria is also exporting significant quantities of petrol.
Source: Getty Images
NBS data showed PMS exports increased from ₦452.48 billion in Q1 to ₦546.02 billion in Q2. African markets accounted for about 76.3 per cent of total exports, with West African countries receiving ₦376.46 billion worth of Nigerian petrol.
Despite these exports, Nigeria recorded a net PMS trade deficit of ₦406.12 billion in Q2, as imports of ₦952.15 billion exceeded exports of ₦546.02 billion.
The figures highlight a striking contradiction in Nigeria’s fuel market: domestic refining capacity is expanding rapidly, yet the country continues to spend heavily on imported petrol while simultaneously exporting locally refined products.
Dangote raises alarm as petrol imports surge
Legit.ng earlier reported on Nigeria's increasing reliance on petrol imports, contrasting with the expansion of domestic refining capacity, particularly at the Dangote Petroleum Refinery.
The situation raises crucial questions about the country's fuel market dynamics as Nigeria grapples with the dual challenge of being both a major exporter of refined products and a significant importer. Marketers Import N952 Billion Worth of Petrol to Battle Dangote Refinery Petrol.
Source: Legit.ng
